How will this be paid for?
So a $200 increase for all or 12% increase on your current rate?
The seniors who are NOT able to pick up a part time job are the people I really feel for right now, inflation is out of control REALLY OUT OF CONTROL!! These folks have worked hard their entire lives and these bastards have increased the cost of living so much it is impossible for them to make it without giving up whatever enjoyable activities they may have!! I HATE THE BASTARDS IN DC!!
Just Bernie’s pipe dream so far, but another powerful tool to scare older folks before the election.
As proposed, taxable income goes up $200 per month and with current 20% inflation they will have lost 10% of the purchasing power of Social Security payments.
Remember, this will eventually implode. As per Coward-Priven plan. This is about the agenda. About destroying the USA and making us all serfs on the global plantation.
The bill proposes to increase the maximum taxable salary for Social Security, adding funding by applying the Social Security payroll tax to all income below $250,000. Currently, earnings above $147,000 aren’t subject to the Social Security tax. An additional proposal would be to base the annual COLA on the Consumer Price Index for the Elderly (CPI-E) instead of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Well... at least it’s better than sending it to Ukraine / Biden family.
If they’d let people earn more than $18,960 a year that would help a lot.
It would be more tax and SSI withholding collected too.
From reliable workers.
My goodness! I receive SS and I think this is an awful idea. The way to increase the SS fund is to get more people back into the work force. The Labor Participation rate is something like 62.2 percent.
We need to quit paying able-bodied young men and women to sit at home and require them to work and pay into the SS system that they will depend upon at retirement age. I worked and paid SS taxes from the time I was about 16. Now we have people perfectly able to work but who have never worked a day in their life but will be receiving benefits.
I think we should send another 100 billion to Ukraine and trillions more for every country on earth, and don’t forget those Compassionate wars lasting 10 years costing multiple trillions.
Wow this is propaganda 100%. There is only a theoretical shortfall. For a few years the boomers will overwhelm the system. But shortly afterwards the system will be more flush than ever. As the boomers die off and the oldest boomer is now 77, the very large millennial generation will be able to pay for the boomers and generation X from then on. The next problem will come about 50 years later and will depend on the size of the next generation which is being born right now.
Nobody will lose their Social Security no matter what. The easiest way to solve the problem would be to lend the Social Security program some money as a stop gap. The better way to solve the problem is to move back the age when people could start Social Security by 2 years. Especially the early retirees could be moved back to 64. The later retirees could be moved back to 69.
Another way to do it is a claw back.. That allows people to get Social Security but to claw it back if their income is too high. This could be offset with a higher SS benefit if people wait until 75 to get their higher benefit. That way it works as an insurance policy for those who are wealthier.
Our gov robbed the well funded SS trust fund decades ago. Our gov is feckless, reckless and criminal.
Social security used to be EXEMPT from federal income taxes.
It’s far, far better helping American citizens than stuffing money into the pockets of crooked Churchill wannabes. Good on whoever pushed this help forward.
tax the rich, meaning the upper middle class, by increasing earnings subject to SS tax to $250,000
this is especially yummy for working couples, they get to pay double, and yet qualify for one check
Who in the world relies solely on Social Security for their retirement income?! Do people not plan for their eventual retirement?
And nobody will ever notice that it is taken back in taxes and inflation.
According to my leftist friends( well not really) it’s just numbers, you can merely delete them and start all over. Done deal!